Consumer confidence plummets

20/09/2011 09:30

The steep drop in consumer confidence continued in September. The consumer confidence indicator fell 9 points to -30. The indicator had also dropped by 9 points in August. Such a dramatic downswing in two consecutive months is unprecedented. Confidence in the economic climate deteriorated further, willingness to buy also started to dwindle.

Consumer confidence

Consumer confidence in the economic climate has collapsed over the past months. The component indicator economic climate fell by 15 points to -53 in September. This is more than 50 points below the level of February this year. Consumers’ opinions on the economic situation over the past twelve months slumped most dramatically in September relative to August, but consumers were also far more negative about the economic situation over the next twelve months.

Economic climate, seasonally adjusted

Willingness to buy also deteriorated in September, whereas in Augustus it had remained stable. The component indicator willingness to buy fell by 4 points to -14. Consumers’ opinions about their own financial situation were more negative and they thought the time was less favourable to buy expensive items.